Make Your Money Work For You
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It is usual for parents to invest in their minor kid’s name, whether it is through a fixed deposit (FD), stocks, an insurance policy, or the Sukanya Samriddhi Scheme for a female child, etc. But what if any of these assets generate income, such as interest on a fixed-term deposit? So, let’s quickly look at the tax consequences for …
Many individuals believe that transactions between spouses are tax-free. But the truth is bit more complex. While certain measures exist to avoid the application of taxes on asset transfers between spouses, there are also laws in place to discourage the abuse of these exceptions for tax evasion. Individuals must understand both sides of the income tax equation …
‘Just Keep Buying’, published in 2022 is a straightforward approach to personal finance that revels in debunking falsehoods and eliminating old cliches about money and personal finance. It delves into the psychology of money and presents a practical guide to making healthy financial decisions, including all-important subjects such as saving and making investments. The author, …
A vital question to ask college students nowadays is whether or not they are thinking about money. Being curious, acquiring knowledge and discovering new things appear to be too foreign for schools or parents to care about nowadays, as education is centered only on employability. Students have been trained to judge themselves based on their academic …
The short answer to this question is “It depends”. Every year, around 10 million marriages take place in India. While it was formerly the standard in India for couples to pool their money after marriage, many couples are currently adopting a different path. Some couples choose to have independent assets despite sharing the obligations and costs. According …
‘Broke Millennial’ (2017) is a sensible personal financial handbook meant to assist cash-strapped individuals in their 20s and 30s in planning for the future. Complete with easy-to-use yet powerful advice, this book will help you quit barely getting by and begin to prosper both personally and financially. This book’s author, Erin Lowry, is based in …
The book ‘The Millionaire Next Door’, based on actual interviews, demonstrates that many millionaires’ daily lives are far from the caricature of luxury automobiles, homes, and private aircraft. Even so, this book debunks the myth that achieving the status of millionaire is tough. According to the author, everyone may learn not only how to become …
‘Your Money or Your Life’ is a book written by authors Vicki Robin and Joe Dominguez. This book displays is a nine-step approach to regaining control of your money so that you may live your life rather than merely make a living. You’ll discover how to change your attitude about money and time, get out …
The quality of your life is primarily determined by your habits. Those who are financially successful have habits that influence significantly to their success. It’s no surprise that many wealthy individuals today were not born rich. And getting to where they are today was clearly not an easy journey. One of the reasons they got …